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What stage is the Finance Bill at?
An update on the progress of the Finance Bill through Parliament.
A previously reported, Finance Bill 2018-19 was published on 7 November 2018. A substantial number of provisions of the Bill were agreed to without amendment at the first and second..
Online Published Date:
24 December 2018
Appeared in issue:
Vol 23 No 09 - 24 November 2018
Financial Reporting Council: Project update
In the UK, the FRC has had a busy month. Some highlights of interest to FITAR readers are detailed below.
Audit – thematic reviews for 2019/20 and priority sectors
The Financial Reporting Council (FRC) has published its announcement[1] of..
Online Published Date:
24 December 2018
Appeared in issue:
Vol 23 No 09 - 24 November 2018
Finance Bill: Updated profit fragmentation rules impacting UK Businesses
The rules on profit fragmentation have been updated to remove the additional notification requirements and introduce a new reasonableness test.
Along with the developments discussed above, the bill introduces targeted provisions to tackle tax..
Online Published Date:
24 December 2018
Appeared in issue:
Vol 23 No 09 - 24 November 2018
Singapore in a Post-BEPS world: Threats and opportunities
Base Erosion and Profit Shifting (“BEPS”) and other related global trends pose issues for all tax planning done by multi-national corporations (“MNCs”) and in particular, for jurisdictions which have historically been used by..
Online Published Date:
24 December 2018
Appeared in issue:
Vol 23 No 09 - 24 November 2018
Editorial
The year 2018 has been one of relative uncertainty in the UK not least because of the ongoing Brexit negotiations and the resulting “grey areas” around any potential legal ramifications when exit day comes around, particularly in the..
Online Published Date:
24 December 2018
Appeared in issue:
Vol 23 No 09 - 24 November 2018
Tax case - functional currency change results in claiming foreign exchange losses
The Commissioners for HM Revenue and Customs v Smith and Nephew Overseas Ltd and Others Upper Tribunal decision.
The Upper Tribunal (UT) has dismissed HMRC’s appeal in a case involving a change in the functional currency of three companies..
Online Published Date:
24 December 2018
Appeared in issue:
Vol 23 No 09 - 24 November 2018
IFRS 9 - adapting to technological challenges
Ulrich Wiesner explains why collections departments need to embrace analytics in order to deal with the new accounting standard.
IFRS 9 may be an accounting standard, but its impact extends far beyond accountants. For collectors, it fundamentally..
Online Published Date:
24 December 2018
Appeared in issue:
Vol 23 No 09 - 24 November 2018